As policymakers throughout the country--and around the world--look for ways to help entrepreneurs launch and grow new businesses, a new research paper from the Ewing Marion Kauffman Foundation underscores the importance of the local entrepreneurial ecosystem.
“Enabling Entrepreneurial Ecosystems” by Philip Auerswald, associate professor at George Mason University, outlines six strategies to help create connected, dense and diverse environments for entrepreneurs.
“The paper raises questions and provides practical advice about the best way to encourage entrepreneurship, which is crucial to the growth of our economy,” said Dane Stangler, vice president of Research and Policy at the Kauffman Foundation. “It encourages proponents of entrepreneurship to take a step back and envision a more holistic approach toward accomplishing their goals.”
The paper says establishing an entrepreneurial ecosystem requires a practical approach toward entrepreneurs’ everyday needs. Policymakers should ask relevant questions and map out a broad framework that minimizes barriers to success. Once the results are evaluated, policymakers should use that data to make necessary adjustments.
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